Funding for my first fix and flip!!!!!!

[Rufino Padilla]

Hello...

So I have a deal under contract and I had a hard money lender that I was working with in the beginning. When I originally talk to her we talked about me coming in with 20% of the purchase property. When I got my term sheet for the property, she changed it to 30% with a lot of others criteria that we had not talked about in the begging. Now I'm scrambling around trying to find someone else to fund this deal or find a way to come up with the extra cash that I need to close the deal. I been shopping around but haven't had any luck. Anyone one her has or knows of something or someone I could try to reach out to for help? thank you

[Nate Herndon]

Hi @Rufino Padilla, there are many programs that can fund 80-90% of your purchase price (even as first time investor). Would be happy to explore the options with you as an advisor.

The main loan caps that you will typically run into are the following:

o  85-90% of purchase price + 100% of rehab
o  90-92.5% loan-to-cost
o 70-75% of ARV

There is a chance that 70% of purchase + 100% of rehab has bumped up against one of those max loan amount caps. But that is to be determined by the loan figures we will review.